Evolent Health, Inc.
Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Evolent Health, Inc. ("Evolent") on behalf of stockholders. A class action complaint has been filed against Evolent, which alleges that defendants issued a series of false and/or misleading statements and failed to disclose material adverse facts about Evolent's business, operations, and prospects, including Evolent's "partnership" with University Health Care, Inc., d/b/a Passport Health Plan ("Passport"). Among other things, defendants misrepresented and failed to disclose that: (i) Evolent's partnership model did not align Evolent's interests with those of its partners, as the model was designed to inflate Evolent's revenue by extracting enormous administrative and management fees at the expense of its operating partners such as Passport; (ii) Passport was struggling financially, particularly after Kentucky cut its reimbursement rates, and the partnership between Evolent and Passport was becoming increasingly unsustainable; (iii) Evolent was draining Passport of functions, employees and money, to such an extent that Passport was left on the verge of insolvency; and (iv) as a result, defendants' public statements were materially false and/or misleading and/or lacked a reasonable basis.